N.Y. Civil Practice Law & Rules § 5228: Receivers

§ 5228. Receivers. (a) Appointment of receiver. Upon motion of a

judgment creditor, upon such notice as the court may require, the court

may appoint a receiver who may be authorized to administer, collect,

improve, lease, repair or sell any real or personal property in which

the judgment debtor has an interest or to do any other acts designed to

satisfy the judgment. As far as practicable, the court shall require

that notice be given to the judgment debtor and to any other judgment

creditors of the judgment debtor. The order of appointment shall specify

the property to be received, the duties of the receiver and the manner

in which they are to be performed. A receiver shall have no power to

employ counsel unless expressly so authorized by order of the court. A

receiver shall be entitled to necessary expenses and to such

commissions, not exceeding five percent of the sums received and

disbursed by him, as the court which appointed him allows, but if a

judgment creditor is appointed receiver, he shall not be entitled to

compensation. If a receiver has been appointed, a court making an order

directing payment, or delivery, of property shall direct that payment,

or delivery, be made to the receiver rather than to a sheriff. Sections

6402, 6403, 6404 and 6405 are applicable to receivers appointed under

this subdivision.

(b) Extension of receivership. Where a receiver has been appointed,

the court, upon motion of a judgment creditor, upon such notice as it

may require, shall extend the receivership to his judgment.